In 2002, the Income Tax Department had investigated several Satyam offices and had found that Ramalinga Raju had opened multiple benami accounts through relative and friends.
Accounts showed Rs 29.5 crore of fixed deposits then. The funds were frequently used for trading in Satyam shares, flouting the insider-trading norms. However, State Bank of India has revealed to a news agency that the bank has an outstanding exposure of nearly Rs 500 crore to Maytas Infrastructure.
Now doubts persists that banking sector in India may have a role in the largest corporate fraud of India.
OneIndia News (With inputs from Agencies)